Ann: Change in substantial holding from CBA, page-35

Hi Steve,

You post some good comments on the other thread, but unfortunately (but not uncommon) get talked down by other holders without them giving a plausible answer to your questions.

Without going into details and I think you are aware of the shortcomings I see over there...the main difference between the two, and I know you acknowledge that the money will be made by the Co's that will actually end up supplying the battery manufactures with the raw materials needed...the main difference between the two projects is the initial output target and Capex required for both projects...IMO KNL will achieve its goal, the other one is just too far from current market demand...if they start with lower output their Opex will show a completely different picture which IMO will render the project uneconomical.

Al IMO